National Bank of Canada (NTIOF) Raises Dividend to $0.49 Per Share

Russell Investments Group Ltd. owned about 0.24% of Royal Bank of Canada worth $288,624,000 as of its most recent SEC filing.

A number of other brokerages also recently issued reports on RY. Andra AP fonden now owns 254,000 shares of the financial services provider's stock worth $24,521,000 after acquiring an additional 19,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Royal Bank of Canada by 0.7% during the 3rd quarter. The shares were sold at an average price of C$63.43, for a total transaction of C$4,645,105.76. Argus boosted their price target on shares of Royal Bank of Canada to $94.00 and gave the stock a "buy" rating in a research report on Friday, January 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded National Bank of Canada from a "buy" rating to a "hold" rating in a report on Saturday, January 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company.

Shares of Royal Bank of Canada (RY) opened at $78.89 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.90. The company has a market capitalization of $147,670.00, a price-to-earnings ratio of 13.53 and a beta of 0.71. National Bank of Canada has a 52 week low of C$51.41 and a 52 week high of C$65.68.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Friday, February 23rd. The financial services provider reported C$1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$1.88 by C$0.04. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Royal Bank of Canada had a return on equity of 17.60% and a net margin of 21.64%. The business's revenue for the quarter was up 12.3% compared to the same quarter previous year.

In related news, insider Lisa Swiderski sold 4,000 shares of the stock in a transaction on Monday, December 18th.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Thursday, March 8th will be given a $0.095 dividend. The ex-dividend date is Tuesday, April 24th. This represents a $2.40 annualized dividend and a dividend yield of 3.83%. Barclays cut shares of National Bank of Canada from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, December 19th. Royal Bank of Canada's payout ratio is presently 49.48%. Finally, CIBC lowered shares of Royal Bank of Canada from an outperform rating to a neutral rating and upped their target price for the company from C$113.00 to C$114.00 in a research note on Thursday, February 1st. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

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Royal Bank of Canada (RBC), is a diversified financial services company. The Bank's segments are Personal and Commercial, which includes the banking, financing and investing services offered to individuals and businesses, as well as insurance operations; Wealth Management, which consists of investment solutions, trust services, banking services, lending services and other wealth management solutions offered through internal and third-party distribution networks; Financial Markets, which includes banking services, investment banking services and financial solutions for institutional clients, and Other, which includes treasury operations, including the Bank's asset and liability management, liquidity management and funding operations; certain non-recurring items, and the unallocated portion of corporate units.

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